PIPE vs VOO
Invesco SteelPath MLP & Energy Infrastructure ETF vs Vanguard S&P 500 ETF
Which is better, PIPE or VOO?
Mid Cap Value against Large Cap Blend.
VOO has a lower expense ratio. PIPE led over 1Y, VOO over the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 55.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PIPE | VOO |
|---|---|---|
| Expense Ratio | 0.75% | 0.03%Best |
| AUM | $68M | $997.4B |
| Dividend Yield | 3.67% | 1.04% |
| Holdings | 29 | 509 |
| YTD Return | +24.86%Best | +12.37% |
| 1Y Return | +25.79%Best | +16.61% |
| 3Y Return (annualized) | - | +21.37% |
| 5Y Return (annualized) | - | +13.49% |
| Volatility (annualized) | 14.3% | 13.2%Best |
| Max Drawdown | -15.7%Best | -18.4% |
| $10,000 over 1.6 years | $12,619 | $12,784Best |
| Top 10 Weight | 55.0% | 37.6%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Feb 20, 2025 | Sep 7, 2010 |
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Feb 20, 2025 to Sep 18, 2026 (1.6 years).
PIPE vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.6 years both funds cover.
PIPE vs VOO Performance
Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) is an ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year PIPE returned +25.79% while VOO returned +16.61%. Year to date, PIPE is up 24.86% versus a gain of 12.37% for VOO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIPE has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 13.2% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -15.7% for PIPE and -18.4% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.13. They move largely independently of each other.
Fees and Cost Over Time
PIPE charges 0.75% per year while VOO charges 0.03%. On a $10,000 position that is $75 vs $3 annually, a gap of $72 per year that compounds over a long holding period. On income, PIPE currently yields 3.67% against 1.04% for VOO.
Holdings Overlap
24.0% of PIPE's money is in holdings VOO also owns. 0.4% of VOO's money is in holdings PIPE also owns.
PIPE and VOO share little of their money.
4 positions in common, counted across the 26 positions we hold weights for in PIPE and 494 in VOO, against full books of 29 and 509.
What only one of them owns
Our book lists 483 positions for VOO that do not appear in our book for PIPE (98.7% of the fund), and 16 for PIPE that do not appear in VOO (55.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
24.0% of PIPE is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PIPE or VOO?
PIPE has an expense ratio of 0.75% while VOO charges 0.03%. VOO is the cheaper option, by $72 a year on a $10,000 investment.
Which performed better, PIPE or VOO?
Over the past year PIPE returned +25.79% vs +16.61% for VOO, so PIPE leads on 1-year performance. Over the longest common window we track (2 years), PIPE annualized +15.65% vs +16.59% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PIPE or VOO?
PIPE has been the more volatile fund at 14.3% annualized versus 13.2% for VOO. Worst drawdown: PIPE -15.7% vs VOO -18.4%.
Should I hold both PIPE and VOO?
PIPE and VOO have a monthly-return correlation of -0.13, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PIPE and VOO?
24.0% of PIPE's money is in holdings VOO also owns. 0.4% of VOO's is in holdings PIPE also owns. They hold 4 positions in common, counted across the 26 positions we hold weights for in PIPE and 494 in VOO.
Which pays a higher dividend, PIPE or VOO?
PIPE yields 3.67% while VOO yields 1.04%, so PIPE currently pays the higher dividend yield.
Is VOO better than PIPE?
VOO has a lower expense ratio. PIPE led over 1Y, VOO over the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 55.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.